Talks underway to import gas

The government has been working relentlessly to import natural gas from different sources, State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said.

“Talks are going on with different countries for ensuring energy security in the country. We are holding bilateral and trilateral meetings to bring natural gas within this year and the next year under short term agreement,” he said on Monday.

At present, Nasrul said Bangladesh is getting LNG from Qatar and Oman under long term agreement, which will be valid till 2025.

He said that the government will import gas or fuel from different sources, which depends on price negotiation, adding, “If we get specific offer with lower price then we will import gas or fuel.”

Talking about offshore gas exploration, the state minister said the government is trying to review the PSC (Production Share Contract) agreement and go for biding by December this year.

“We gave contracts to two International Oil Companies (IOCs) for twice, but they have backed out due to lack of feasibility,” he said.

Nasrul, however, said that deep sea exploration works need around 10 years. “But we will go for exploration work through biding,” he said.

“Price of natural gas has been increased recent years so we need to explore in the deep sea side by side onshore exploration activities will also be strengthened,” the state minister said.